DTI grants tax perks to exporting firms

The Department of Trade and Industry (DTI) has awarded Export-Oriented Enterprise (EOE) certificates to four companies under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.

Dole Philippines, Philsaga Mining Corporation, Krystle Exports Philippines Inc., and Bosch Service Solutions Inc. received the certificates after meeting the requirement of deriving at least 70 percent of their total sales from exports. The recognition allows them to benefit from zero-rated value-added tax (VAT) on local purchases and VAT-exempt importation directly related to their export operations.

The tax perks will be valid for one taxable year, according to the Export Marketing Bureau, the DTI unit responsible for issuing the certifications.

“These are clear signals that the Philippine government is serious about supporting our exporters by improving our business environment,” said Trade Undersecretary Ceferino Rodolfo during the awarding ceremony held in Makati City on Monday.

Dole Philippines operates large-scale pineapple farms and processing facilities in Luzon and Mindanao, while Philsaga runs the Coo Gold Mine in Agusan del Sur. Krystle Exports is a distributor of Filipino brands to global markets, and Bosch Service Solutions, a subsidiary of Germany’s Bosch Group, provides customer experience and business process outsourcing services.

Rodolfo said the CREATE MORE law reinstates and enhances vital tax incentives, allowing export firms to reduce operating costs and reinvest in innovation and sustainability.

Under the new policy, exporters can enjoy VAT privileges without being registered under an investment promotion agency (IPA), offering an alternative for companies whose IPA incentives have already expired.

Special Assistant to the President for Investment and Economic Affairs Frederick Go also announced that the government will conduct CREATE MORE investment roadshows in the United States, Japan, China, the Middle East, and the European Union to attract more global investors.

“Our message is clear: the Philippines is open for business and poised to become Southeast Asia’s next economic superstar,” Go said.